"In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn.) proposed that borrowers be required to make a 5% down payment in order to qualify for a loan.

His proposal was rejected 57-42 on a straight party-line vote because, as Senator Chris Dodd (D-Conn) explained, “Passage of such a requirement would restrict home ownership to only those who can afford it.”

Can anyone add anything to this?

_________________..."The beauty of being a liberal is that history always begins this morning..."

“a condition in which one lacks liberty especially to determine one’s course of action or way of life”

Democracy:

“a government in which the supreme power is vested in the people and exercised by them directly or indirectly through a system of representation usually involving periodically held free elections”

Plutocracy:

"a government by the wealthy"

Labor union:

"an organization of workers formed for the purpose of advancing its members’ interests in respect to wages, benefits, and working conditions"

You may have seen the recent flurry of stories about how high-tech products are made in China. The stories focus on Apple, but it isn’t just Apple. These stories of exploited Chinese workers are also the story of how and why we — 99% of us, anyway — are all feeling such a squeeze here, because we are suffering the disappearance of our middle class.

News Hawk wrote:"In a bid to stem taxpayer losses for bad loans guaranteed by federal housing agencies Fanny Mae and Freddy Mac, Senator Bob Corker (R-Tenn.) proposed that borrowers be required to make a 5% down payment in order to qualify for a loan.

His proposal was rejected 57-42 on a straight party-line vote because, as Senator Chris Dodd (D-Conn) explained, “Passage of such a requirement would restrict home ownership to only those who can afford it.”